Huge Rehabilitation Grant For Budapest's Neglected 8th District
- 8 Jan 2013 8:00 AM
District 8 is to get a 13-million-euro government grant, the largest ever, to be spent on the renewal of streets and public squares, as well as the renovation of the engineering and facades of residential buildings, directly affecting the value of 1200 apartments. Furthermore the budget includes the building of a sports and recreation center for children, social educational programs, job creation, as well as drug & crime prevention.
Though the district is central, property values have generally been low because of the low-income neighborhood, neglected buildings, and large migrant worker communities or those living on social welfare. The city rehabilitation project continues to bring life back to these streets much like the successful Corvin Project in the same district.
By Andras Patkai, Entrepreneur, Founder and CEO of CE Invest Group, and expert blogger on real estate and property issues in Budapest and Bratislava.
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